Common use of General Bond Requirements Clause in Contracts

General Bond Requirements. Recognizing the Project is a public project, if the Construction price exceeds $100,000.00, the Project is required to be bonded pursuant to 255.05, Florida Statutes. Contractor shall furnish payment and performance bonds on Owner’s standard form covering the full and faithful performance of the Contract Documents and the payment of obligations arising hereunder. As required by Section 255.05, Florida Statutes, Owner shall not make a payment to Contractor until Contractor has provided Owner with a certified copy of the recorded payment and performance bonds for a Project, as applicable.

General Bond Requirements. Recognizing the Project is a public project, if the Construction price exceeds $100,000.00, the Project is required to be bonded pursuant to 255.05, Florida Statutes. The Contractor shall furnish payment and performance bonds on the Owner’s standard form covering the full and faithful performance of the Contract Documents and the payment of obligations arising hereunder. As required by Section 255.05, Florida Statutes, the Owner shall not make a payment to the Contractor until the Contractor has provided the Owner with a certified copy of the recorded payment and performance bonds for a Project, as applicable.

General Bond Requirements. Recognizing the Project is a public project, if the project with a Construction price Price which exceeds $100,000.00, the Project and as such is required to be bonded pursuant to 255.05, Florida Statutes. , the Contractor shall furnish payment Payment and performance Performance bonds on the Owner’s standard form covering the full and faithful performance of the Contract Documents for Continuing General Contractor Services and the payment of obligations arising hereunder. As required by Section 255.05, Florida Statutes, Owner shall not make a payment to Contractor until Contractor has provided Owner with a certified copy of the recorded payment and performance bonds for a Project, as applicable.